AI is one of the major technological breakthroughs that is transforming every business sector around the globe. AI in pharmaceutical industry refers to the system of interconnected and automated technologies which can function autonomously, requiring very little or no human interventions. AI analyzes the colossal amount of data by using techniques such as machine learning, deep learning, natural language processing, adaptive learning, and computer vision. Pharmaceutical and biopharmaceutical companies are leveraging AI for various applications including drug discovery, drug development, and drug commercialization. Global AI (artificial intelligence) in pharmaceutical market is expected to escalate at an impressive growth rate over the forecast period. The report analyzes the market on the basis of deployment type, application, end-user, and regions.
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On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America is expected to hold the dominating position over the forecast period due to the presence of key AI technology providers and extensive adoption of AI technologies across the region. Moreover, well-developed healthcare infrastructure across the region is also expected to augment the adoption of AI technologies in pharmaceutical and biopharmaceutical companies. Europe is expected to grow at a significant growth rate over the forecast period 2019–2025. The growth of European AI in pharmaceutical market is backed by the presence of key pharmaceutical and biopharmaceutical companies, such as F. Hoffmann La-Roche AG and Merck KGaA, which are adopting AI for drug discovery, drug development, and drug commercialization.
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Global AI in Pharmaceutical Market Segmentation
By Deployment Type
· Cloud
· On-Premises
By Application
· Drug Discovery
· Drug Development
· Drug Commercialization
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
